Book Review: Day to Day Economics

I’ve never met Professor Deodhar, but he is an alumni of my college, Gokhale Institute of Politics and Economics. That is not, of course, why I recommend the book, but maybe you should keep that in mind before reading this review!

I often recommend to students that they read at least one newspaper a day (and preferably more than one) along with a journal or a magazine of some sort that is related to the world of business, economics or finance.

The modal response to this suggestion is that it is too “hard” to read any of these, for the jargon is incomprehensible, and the topics don’t make sense. Reading this book before you embark on the habit of daily reading won’t solve every problem you have, but it will come mighty close.

Most of the topics that have the potential to confuse are dealt with over here in accessible fashion, and more importantly, are written in a way that should whet your appetite to read more about these topics. That is a particularly challenging thing to do, but this book manages it.

This includes government and it’s budgets, the stock market and money, trade and inflation along with a light discussion of business cycles. That sounds like a lot, but the book remains accessible throughout.

But equally, don’t just stop at this book! Please do get into that habit of reading those newspapers and magazines on a near daily basis. In fact, beginning Monday, I’ll begin a series of articles about how I read, in the hope that this may benefit some of you.

But in the meantime, I’ll end with links to five books that really should have been a part of this series, but couldn’t be. That’ll come up tomorrow.

Links for 18th August, 2018

  1. Via MR, advice from Patrick Collison. The whole thing is worth reading, but I would ask you to consider this, in particular:

    More broadly, nobody is going to teach you to think for yourself. A large fraction of what people around you believe is mistaken. Internalize this and practice coming up with your own worldview. The correlation between it and those around you shouldn’t be too strong unless you think you were especially lucky in your initial conditions.

  2. If one makes the (not unreasonable) assumption that every day ought to be beer day
  3. TTLITM #1 (TTLITM Explainer here)
  4. Feminism and economists.
  5. Data is hard. Corollary: econometric studies can be extremely misleading.